Cullen Frost Bankers Inc. Has $20.38 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Cullen Frost Bankers Inc. lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 232,291 shares of the company’s stock after selling 5,774 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in American Electric Power were worth $20,381,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC increased its stake in shares of American Electric Power by 10.1% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,008 shares of the company’s stock worth $352,000 after purchasing an additional 368 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of American Electric Power by 3.6% during the 2nd quarter. Private Advisor Group LLC now owns 58,311 shares of the company’s stock worth $5,116,000 after purchasing an additional 2,011 shares during the last quarter. Addison Advisors LLC increased its stake in shares of American Electric Power by 14.8% during the 2nd quarter. Addison Advisors LLC now owns 902 shares of the company’s stock worth $79,000 after purchasing an additional 116 shares during the last quarter. Arizona State Retirement System increased its stake in shares of American Electric Power by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 152,544 shares of the company’s stock worth $13,384,000 after purchasing an additional 1,635 shares during the last quarter. Finally, Altus Wealth Group LLC grew its stake in American Electric Power by 2.7% in the 2nd quarter. Altus Wealth Group LLC now owns 17,858 shares of the company’s stock valued at $1,567,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded down $1.05 during midday trading on Friday, reaching $102.05. 3,659,214 shares of the company’s stock were exchanged, compared to its average volume of 3,243,136. The company’s 50 day simple moving average is $95.80 and its two-hundred day simple moving average is $89.55. The firm has a market capitalization of $53.79 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $104.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. Equities research analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley raised their target price on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and raised their target price for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Finally, Guggenheim increased their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $94.77.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.